New revenue vital – Guild
July 8, 2013
AUSTRALIAN pharmacies must
find new revenue opportunities as
the pharmacy sector deals with a
period of “very significant transition
that cannot be ignored,” according
to Pharmacy Guild executive
director, David Quilty.
Speaking at the Australian
College of Pharmacy Gala Dinner
on Sat night, Quilty said: “This is
a challenging time for pharmacies
and the pharmacy profession...
over the next two years the flowthrough
impact of price disclosure
will materially impact dispensary
margins.”
He said that with script volumes
predicted to grow strongly,
price disclosure is likely to be
manageable, as long as pharmacies
“resist the temptation of an
unsustainable price discounting
race to the bottom”.
However there are other threats
too, driven by the commoditisation
of medicines supply, cuts in
government funding, the impact of
new technologies and the demands
of an ageing population.
“Like all transformations, the
mistake is to forget your core
business...at the end of the day,
the core business of pharmacy is
the supply of medicines and unless
that core business is properly
remunerated, no amount of new
services can fully compensate for
the shortfall,” Quilty said.
He said the Guild was committed
to protecting this “core,” but
was also looking at the shape of
pharmacy in the future, including
a stronger focus on pharmacy
services with “larger, more
meaningful practice payments”.
As well as existing areas such as
medication management, opioid
replacement, continued dispensing
and personal patient care,
pharmacy may extend its activity
into triage, the treatment of minor
ailments, screening and monitoring
services and even community
based care.
Quilty said that trends in the
wider health system all point to
the potential for a significantly
enhanced role for pharmacy, and
this is a key part of preparations
for the negotiation of the next
Community Pharmacy Agreement.
“Funding the quality use of
medicines and the medication
management of patients with
chronic conditions is a strategic
investment in better and more costeffective
health outcomes,” he said.
“But just because it makes sense,
doesn’t mean it will automatically
happen...we must make our case.”
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